Real life MMD: Should I take the redundancy money?

Gillsx

If you are happy to leave and want to take voluntary redundancy then do it. No one is safe even if they have 'good performance'. Plus by you taking the money you are right in that someone else may have their job saved. There is no good moral code in this. You are offered the redundancy, you are entitled so go for it if it's what you want. Ignore those who say you shouldn't because 'it's not right'. It's your right!

System

Take the money in my opinion. I was in the same position last year and was made redundant after nearly 18 years and was unemplyed for 3 months, so the money was a god send to tide me over. Most of the payout I did not use and banked it as a rainy day fund for the future.:j

nhampson

No dilemma, you aren't increasing costs for the company but someone who hasn't got an alternative keeps their job. How would your righteous collegue feel if he lost his job with nowhere to go whereas you taking the redundancy meant he kept it?

Volunteer and good luck in the new position.

[Deleted User]

Are you mad?

Look after no1 because no-one else is going to! Your employer certainly wont and would kick you out to save a few £s.

[Deleted User]

avaroe wrote: »

Making yourself voluntarily reundant can affect your redundancy payment as technically it is you handing in your notice. So it will be up to the employer if they want to give it or not.

More seriously from April the right to go to employment tribunal if something goes wrong increases from having to be with your employer from 1 year to 2 (except for certain cases like discrimination). So if you have worked with your current employer for more than a year (as you are offered a redundancy payment i am assuming you have) you have some very good rights, whereas your new employer could get rid of you for any reason under 2 years.

So the question is, if something goes wrong in the new job what will you do?

I stand corrected by Jotorr, taken from citizens adviceguide

'Where jobs are to disappear, an employer may ask for employees to volunteer for redundancy. Even if you take voluntary redundancy, it will still count as a dismissal and your employer must still follow the proper procedures. You won't lose any right you may have to redudancy pay.
If you volunteer for redundancy, it is up to your employer whether they actually select you.
Get expert advice about whether it's worth choosing voluntarily redundancy.'

What i will say that in the above is when they offer voluntary redundancy, from your info you are asking for vol red not being offered. So your payment may still be affected also from goverment website:

'If you have been selected for redundancy you may find a new job elsewhere before your redundancy notice period has finished. If you leave the job you are being made redundant from before your notice period has finished, you may lose your rights to a statutory redundancy payment'

What amazes me is that a lot of the reponses are to take the money, the situation is never that simple. What happens if the payment is affected, what happens if you dont like the job, what happens if the new business has problems? To take the money and run when you are in a secure job (from the info given) seems a bit worrisom without asking more questions. Seek advice before asking! You can get this from ACAS or a CAB or if you have the money an employment solicitor,

Is that true its going up to 2 years now? It used to be 1 year they could get rid with no reason and 2 years before you got any redundancy....

Pointless having a perm job. Glad I'm now contracting and earning twice as much as before since theres even less job security now than before.

hardtoexplain

Can't believe some of these replies... take the money man!

tinkyt

Consider the redundancy terms and conditions carefully
as you may be tied down on time period where you can not start another job or may have to pay a certain percentage back of you start alternative employment.

BNT

First, you should separate the redundancy money from any decision to move jobs. If you feel that your career/life will be better in a new job, then you should move. Don't let the money influence that decision.

Once you have taken the decision, if you do leave your current job, I see no moral issue with taking the package. If it is a voluntary package, then it is up to you whether you want to apply. I think the company will assume that for the sake of 2k no one is going to take voluntary reducndancy without having alternative plans in place. The reason that companies offer such packages is that it is generally easier and cheaper than forced redundancy.

Goinker

Remember, there's NO sentiment in business!!! In late 2002, redundancies loomed in the Company I'd worked for for 25 years. Despite being 56, I decided I'd had enough anyway, so volunteered, but was turned down, as the Company "needed experienced people". The folk who were made redundant had hardly gone through the door than Management were embarrassingly asking for more redundancies. I again volunteered, and this time, was accepted, going a few weeks later with over 22k (Bye-bye mortgage!) with an enhanced package. 6 months later, the Company folded, and guys I'd worked with for years, some with more than 35 years service, had to wait months for their outstanding wages, only got State redundancy, and the Company's pension scheme took 6 years to be sorted out. I, on the other hand, walked straight into another job (from which I've just retired!), mortgage-free, and a few grand in my pocket. A 'No-brainer' for me, so if you're sure of the job offer, then go for it!

pennystretcher

Take the money & run.

If the company is offering VS as a first option and if they don't get enough volunteers, most likely they will move on to compulsory redundancies. You might be actually doing a favour for someone else who would like to stay in their job and may be forced out when the compulsory redundancies kick in.

Quite often when a big company opens up a VS scheme or makes compulsory redundancies they have a number of staff in mind in addition to "normal turnover"...so if you have a new job anyway, do them a favour and help them to get their redundancy quota filled.